My assessment of the threat is that it is very serious, and the decision to use those services depends primarily on what it is that you are putting at risk, and if there is an ability to 'spread your bets'.

For a small hobby, learning, or side project, it might make a lot of sense, and the risk-mediation would be to be sure you have backups.

For anything that can significantly affect your career, future, and/or livelihood, I'd at least want to be sure that either 1) Google is just one part of your system that is redundant with another component or easily replaced, or 2) as ocdtrekkie pointed out, be sure to go with a provider that has actual service.

Good luck with whatever you make!